Imagine you are a cosmetic surgeon who focuses exclusively on facial rejuvenation. Say your target audience is females within 10 miles of your medical center between the ages 40-65 that have a household income greater than $50,000 per year.
Despite your efforts to narrow down to specific demographics, this is still quite a broad audience.
In fact, the reason many advertising campaigns fail is because there is only a certain percentage of that target audience that is going to be interested in getting your procedure performed. The broader your audience, the less efficient your marketing efforts will be and the more expensive your cost per acquisition of a client.
Wouldn’t it be great if you could ‘sort’ a broad audience into specific funnels of those who are interested in seeing your offers from those who are not?
This process for Facebook Video Ads will detail exactly how your plastic surgery center can accomplish this feat (and efficiently streamline your cost per acquisition as well)!
Understanding Your Marketing Numbers
Before we dive into how this works…
In order to understand the potential of value in your Facebook video ads, you’ll need to understand some basic marketing key performance indicators.
Below are terms and equations you would need to know:
- Cost per click (CPC): how much it costs to have someone click a link on your ad and visit your website
- Conversion rate (Conv): how many people (out of 100) must visit your site in order to complete the call to action
- Cost per lead (CPL): your Cost Per Click x your Conversion Rate ($10cpc x 10% conv = $100 cpl)
- Cost per show (CPS) – your CPL times your appointment show rate ($100cpl x 50% appt show rate = $200 CPS)
- Cost per acquisition (CPA): CPS times your lead conversion ($200 cpl / 50% lead conversion = 400 CPA
If you understand the lifetime value of a customer (let’s say $4000), then you can predict that, in the above example, for every $400 you spend in marketing, you can receive $4,000 in revenue, which is a 1,000% ROI. By knowing your ROI for each type of marketing you perform (radio, AdWords, newspaper, review sites, etc…), then you can best determine where to allocate your marketing funds.
When you impact any part of the above equation (lower your cost per click, raise your conversion rate, or improve your appointment show rate), in a positive way, you will reduce your oveerall cost per acquisition. Facebook video ads can help with each step of this process.
Traditional Cold Market Facebook Advertising
In this past, with Facebook marketing, if you wanted an interested person to ‘raise their hand‘ and show interest in your product or service, you’d create an ad that would lead customers to a landing page with an opportunity to fill out an appointment form. The really advanced marketers would then remarket those who visited the website but didn’t fill out the form (a practice known as ‘remarketing’).
Remarketing is a popular buzzword in digital marketing right now. It should be. The reason is that targeting a warmer lead is always going to outperform targeting the cold market.
In the CPL equation, with remarketing, the CPC will be slightly reduced by the conversion rate will be significantly lower. If your cold market lead is $100, then your remarketing lead could realistically be about $60!
Remarketing sounds pretty awesome, doesn’t it?
The Remarketing Dilemma
The problem for most cosmetic surgeons is that, due to the general broadness of the target audience, the cost per click is expensive. Therefore, building a remarketing list is expensive. This antiquated process of remarketing to only those who visited a site but didn’t opt in is NOTa very efficient utilization of your marketing dollars.
What if you could follow a process that would allow you to build a remarketing list for 90% less of the cost? And what is this process would not only reduce your cost per lead, but also improve your cost per show and overall cost per acquisition?
This is where Facebook Video Ads can come in.
The Real Goal Of Facebook Video Ads
This sentence may shock you, but here is goes:
The goal of Facebook Video Ads to your cold market is NOT to generate leads but to build your remarketing audience.
Sounds contrary to logic, doesn’t it?
But if your cost per lead on remarketing is 40% less, wouldn’t you want to focus on a strategy that’s going to grow your remarketing audience (instead of exclusively focusing on cold market lead generation)?
Sure, you can put a link on the Video Ad and still generate leads, but ultimately, you’ll want to build your remarketing funnels and run offers to that group.
More specifically, with Facebook video ads, you want to show a video commercial of your product and service in order to sort your broad audience into funnels of those who are NOT interest, slightly interested, and very interested.
You can accomplish this feat by tracking how long someone watches your video!
For example, let’s say you create a 90 second video commercial about your product and service. Do you think there is a difference in level of interests of a potential customer who watched 10 seconds of your video versus 30 seconds, 60 seconds, or the entire video?
Build That Remarketing Audience!
One of the best parts of marketing on Facebook is the fact that you can create custom audiences based on actions taken by customers.
When it comes to Facebook video ads, you can create custom audiences based on how long someone watched a video for the following:
- 3 seconds
- 10 seconds
- 25% of video
- 50% of video
- 75% of video
- 95% of video
- 100% of video
If you’re doing a 90 second video commercial, you can probably assume that anyone who watches only 3 or 10 seconds of your video isn’t very interested. But if someone watches 50% of your video, they probably are showing some interest but will need some more information about you. If someone watches 95% – 100% of your video, you’re probably ready to make an offer.
So here’s the super exciting part of this process…
Remember when I first discussed the concept of remarketing? It was based on people clicking on an ad and visiting your website but not filling out a web form. Remember the cost of $10 cpc?
With this process, your new KPI is cost per pixel fire, or cost to get someone to watch, for example, 100% of your video.
In many cases, your cost to build an audience of people who watch 100% of a video can be (on the high side) only $1! That’s a 90% discount building your audience thru CPCs.
The cost of building your audience of people who watch 50% can be as low as $.20 and the cost of getting people to watch 25% of a video can be as low as $.05.
Imagine all the remarketing ads you can run to these types of audiences!
Recommended Facebook Video Ads Process
Here are the steps I like to follow when creating a Facebook Video ads cold marketing funnel:
Step 1: Create a video 60 – 90 seconds long and optimize for Video Views (remember, goal is not to generate leads but to build your remarketing pixels)
Step 2: Create the following custom audiences:
- 25% Watch – remarket into brand funnel
- 50% Watch – create Lookalike Audience for future marketing
- 95% Watch – remarket into offer audience
Step 3: Brand Awareness. Anyone who watches 25% of the video will go to next step – brand awareness. For this phase, I will create 2 days worth of ads dedicated to informing the potential customer of the benefits, uniqueness, and credibility of the Center. From there, we’ll go to the offer stage.
Note: Anyone who watches 95% of the video bypasses step 3 and goes directly to the offer Step 4.
Step 4: Run offer ads to landing page based on those who’ve gone thru Step 3 and those who’ve watched 95% of the video
Step 5: Run Lead Generation Ads to those who’ve not opted in in Step 4. Use a slightly different offer / incentive as this will be the last attempt.
Summary of Facebook Video Ads For Cosmetic Surgeons
Facebook video ads are a great way for Cosmetic Surgeons to narrow down a broad target audience of potential clients and sort into funnels of those who are more likely to ask for an appointment. By tracking and creating custom audiences based upon how long a customer watches a video, you can create warmer remarketing lists. Following this process should not only improve your cost per lead, but should also improve your cost per appointment show and cost per acquisition. So instead of making offer to a broad, cold market, try creating a remarketing funnel designed to get them more engaged in your services.